Tag Archives: Volvo

VolvoCars

Volvo Cars sales up 21 per cent in July

Volvo Cars has announced that its global sales for the month of July have increased by 21 per cent compared to the same period last year. This growth marks the 11th consecutive month of year-over-year sales increase.

From January to July 2023, Volvo Cars sold a total of 395,856 vehicles globally, representing an 18 per cent increase compared to the same period in 2022.

The company’s Recharge line-up, which includes fully electric and plug-in hybrid models, nearly doubled in sales compared to July last year. Recharge models accounted for 35 per cent of all Volvo cars sold globally in July, with fully electric cars making up 10 per cent of the total.

In Europe, Volvo Cars reported a 28 per cent sales increase, reaching a total of 20,286 vehicles sold. Recharge models accounted for 56 per cent of sales in the region, while fully electric cars accounted for 13 per cent.

Meanwhile, sales in the United States saw a significant increase of 57 per cent, with 10,785 Volvo cars sold in July. The number of Recharge cars sold in the US grew by 226 per cent compared to last year, and Recharge models made up 29 per cent of all vehicles sold in Volvo Cars’ second-largest market.

In China, Volvo Cars experienced a decrease of 8 per cent in sales, with a total of 14,182 vehicles sold in July. Recharge models accounted for 8 per cent of the total sales in China.

During the month of July, the top-selling model for Volvo Cars was the Volvo XC60, with 18,259 units sold. This was followed by the XC40 with 14,594 units sold, and the XC90 with 8,640 units sold.

 

July

July

  

Jan-July

Jan-July

  
 

2023

2022

Change

2023

2022

Change
             

Europe

20,286

15,893

28%

167,229

135,663

23%

Recharge

11,285

6,344

78%

101,545

64,890

56%

 – Fully electric

2,712

994

173%

42,329

14,048

201%

 – Plug-in hybrid

8,573

5,350

60%

59,216

50,842

16%
             

China

14,182

15,487

-8%

92,708

85,720

8%

Recharge

1,170

815

44%

8,735

5,857

49%

 – Fully electric

253

342

-26%

2,054

1,228

67%

 – Plug-in hybrid

917

473

94%

6,681

4,629

44%
             

US

10,785

6,868

57%

70,535

57,453

23%

Recharge

3,132

961

226%

20,621

16,866

22%

 – Fully electric

1,255

94

1,235%

8,858

3,905

127%

 – Plug-in hybrid

1,877

867

116%

11,763

12,961

-9%
             

Other

8,912

6,416

39%

65,384

57,129

14%

Recharge

3,115

1,476

111%

24,219

15,944

52%

 – Fully electric

1,284

153

739%

11,523

4,622

149%

 – Plug-in hybrid

1,831

1,323

38%

12,696

11,322

12%
             

Total

54,165

44,664

21%

395,856

335,965

18%

Recharge

18,702

9,596

95%

155,120

103,557

50%

 – Fully electric

5,504

1,583

248%

64,764

23,803

172%

 – Plug-in hybrid

13,198

8,013

65%

90,356

79,754

13%
News

Volvo discontinues saloon and estate cars in the UK, focusing on SUVs

Volvo has made the decision to exclusively sell SUVs in the UK, discontinuing its saloon and estate cars.

The Volvo S60 saloon, as well as the Volvo V60 and Volvo V90 estates, are no longer displayed on the company’s online configurator. However, customers can still order pre-configured versions from dealers.

Volvo had previously removed the S90 saloon, V60 and V90 Cross Country estate models from sale as part of a range consolidation effort. The S60 was temporarily removed and later made available for orders again.

The South Carolina plant, where the S60 is manufactured, is currently undergoing renovations to enable the production of electric SUVs for Volvo and its brand Polestar, with plans to launch in 2024.

It’s important to note that the discontinuation of estates does not affect the production of custom vehicles supplied to the UK’s emergency services, including police forces. The S90, V60, V90, and their Cross Country variants will still be produced with specific authority specifications.

These vehicles are designed differently from customer models, featuring enhanced performance, higher payload capacity, upgraded brakes, and the removal of the 112mph speed limiter.

In a statement to Autocar, Volvo explained that their product offer is rapidly evolving, with a focus on full electrification and the adoption of new platforms and technologies. As a result, they have decided to remove additional models from the UK line-up, including the S60, V60, and V90. The demand for SUVs is growing, while interest in their upcoming fully electric EX30 and EX90 models is strong. In contrast, the demand for saloon and estate models in the UK has significantly declined, leading to the decision to discontinue them in the country.

News

Buying Guide for the Volvo V40

Volvo has a history of creating cult heroes like the Amazon, P1800, 960, and 850 T5-R. However, when it comes to the V40 family hatchback that was produced from 2012 to 2019, the recipe seemed to have been lost. The only exception was the discreetly raised Cross Country version that appeared in the cult TV detective series Midsomer Murders.

Despite initial skepticism, the V40 now has a surprisingly large and loyal following. People are attracted to its sleek looks, high-quality build, and unpretentious heritage (which is quite different from typical German cars).

So, why would someone choose the V40 instead of a more superior and practical option like the Audi A3 Sportback? Perhaps the slightly lower price (around £1000 cheaper) and additional features might sway them. However, we believe that Volvo’s less assertive image is also a major factor.

When the V40 was introduced over a decade ago, Volvo was still finding its place under the new ownership of Zhejiang Geely Holding Group. The company aimed for the V40 to make a mark in the premium segment of the family hatchback market.

Being based on the Ford Focus was a good starting point for the V40. Until 2015, it even shared the same petrol and diesel engines with the Focus, including the five-cylinder 2.5 from the Focus ST in the T5 version.

From 2015, Volvo began equipping the V40 with its own engines. For example, the T5 received a new 2.0-liter four-cylinder engine that produced approximately the same 245bhp as its predecessor.

In addition to the standard V40, Volvo also offered a crossover version called the V40 Cross Country. It had a 40mm higher ride height and decorative body moldings to give it an off-road appearance. However, only the T5 version was available with four-wheel drive. Despite the criticism of crossovers, they still attract positive attention today, as seen with models like the Volkswagen Polo Dune and the Rover Streetwise.

Motorsport

1953 Volvo Military Truck Looks Indestructible, And It’s For Sale

A unique piece of Volvo history is currently for sale in Australia on Collecting Cars. It’s a 1953 Volvo TP21 “Sugga,” which could be considered a precursor to the modern SUV.

The TP21 Sugga, meaning “sow” in Swedish, was first introduced in 1953. It was equipped with a 3.67-liter flathead inline-six engine that produced 90 horsepower. The vehicle also featured a four-speed manual transmission, selectable four-wheel drive, a two-speed transfer case, and locking front and rear differentials. Volvo primarily produced these trucks as personnel carriers and radio vehicles for military use.

According to a report from Hemmings, some of these TP21 Sugga trucks were still in service with the Swedish military until the 1990s.


VolvoCars

Invitation to Volvo Cars’ presentation of the second quarter 2023

Volvo Cars will release its financial results for the second quarter of 2023 on Thursday, 20th July at 06:00 UK time (07:00 CET).

At 08:30 UK time (09:30 CET), President and CEO Jim Rowan and CFO Johan Ekdahl will host a live stream for media, investors, and analysts. The presentations will be conducted in English and will be followed by a Q&A session.

We are looking forward to your participation. Please find below detailed information:

08:30 UK time (09:30 CET)         Presentation for media, investors, and analysts

Link: https://live.volvocars.com

If you are tuning in from China, please use this link: https://live.volvocars.com.cn

During the Q&A session following the main presentation, participants will have the opportunity to ask questions. You can either use the online chat function to type your question or call in. To call in, participants need to register and will receive the dial-in details and individual PIN.

Link to register

For further information, please contact:

Volvo Cars Media Relations

+46 31-59 65 25

media@volvocars.com

Volvo Cars Investor Relations

John Hernander

+46 31-793 94 00

investors@volvocars.com

VolvoCars

Volvo Cars Reports Significant Increase in Global Sales in June

Volvo Cars announced that it experienced a 33% growth in global sales in June compared to the same month last year. The boost in sales can be attributed to the company’s fully electric cars, which recorded a fourfold increase compared to last year. The figures for June 2022 were also affected by production constraints stemming from supply chain issues.

During the first half of this year, Volvo Cars sold a total of 341,691 vehicles, reflecting a 17% increase compared to the same period in 2022.

The Recharge line-up of chargeable models, which consists of fully electric and plug-in hybrid vehicles, saw a remarkable surge of 129% in June. These models accounted for 37% of all Volvo car sales worldwide during the month, with fully electric cars making up 14% of the total.

In Europe, sales grew by an impressive 70% compared to last year, reaching 27,196 cars. Recharge models held a 58% share of overall sales in the region. For the first six months of this year, European sales increased by 23% to 146,943 cars.

In the United States, Volvo Cars sold 12,933 vehicles in June, marking a 53% increase compared to last year. Sales of Recharge models grew by 79% and accounted for 29% of the total sales. Overall sales in the US for the first half of 2023 amounted to 59,750, an 18% increase compared to the same period in the previous year.

In China, sales reached 15,405 cars, which is a 7% decrease from the same month last year. Recharge models represented 8% of the total sales in China.

The top-selling model in June was the Volvo XC60, with 21,053 cars sold (compared to 18,275 units in 2022), followed by the XC40 with total sales of 18,170 cars (compared to 10,194 units in 2022) and the XC90 with 9,895 cars sold (compared to 9,949 units in 2022).

 

June

June

  

H1

H1

  
 

2023

2022

Change

2023

2022

Change
             

Europe

27,196

16,039

70%

146,943

119,770

23%

Recharge

15,708

5,426

189%

90,260

58,546

54%

 – Fully electric

5,487

883

521%

39,617

13,054

203%

 – Plug-in hybrid

10,221

4,543

125%

50,643

45,492

11%
             

China

15,405

16,468

-6%

78,526

70,233

12%

Recharge

1,294

675

92%

7,565

5,042

50%

 – Fully electric

270

118

129%

1,801

886

103%

 – Plug-in hybrid

1,024

557

84%

5,764

4,156

39%
             

US

12,933

8,434

53%

59,750

50,585

18%

Recharge

3,793

2,118

79%

17,489

15,905

10%

 – Fully electric

2,123

553

284%

7,603

3,811

100%

 – Plug-in hybrid

1,670

1,565

7%

9,886

12,094

-18%
             

Other

10,845

8,963

21%

56,472

50,713

11%

Recharge

3,625

2,426

49%

21,104

14,468

46%

 – Fully electric

1,655

584

183%

10,239

4,469

129%

 – Plug-in hybrid

1,970

1,842

7%

10,865

9,999

9%
             

Total

66,379

49,904

33%

341,691

291,301

17%

Recharge

24,420

10,645

129%

136,418

93,961

45%

 – Fully electric

9,535

2,138

346%

59,260

22,220

167%

 – Plug-in hybrid

14,885

8,507

75%

77,158

71,741

8%
VolvoCars

Volvo Cars switches to renewable fuels for ocean freight that will cut fossil CO2 emissions by 84%

Volvo Cars has become the first global car maker to switch to renewable fuel for its intercontinental ocean freight journeys. By using renewable fuel instead of traditional fossil fuel, the company will immediately reduce its fossil CO2 emissions from ocean freight by 55,000 tonnes per year. This renewable fuel reduces CO2 emissions by at least 84% compared to fossil fuel, which is equivalent to the CO2 emissions of a truck driving around the equator about 1,200 times.

The fuel being used is called Fatty Acid Methyl Esters (FAME), which is derived from renewable and sustainable sources, primarily waste cooking oil. It is important to note that no palm oil or palm oil production feedstock is used in the production of this fuel.

This switch to renewable fuel will apply to inbound ocean container transports of production material for Volvo Cars’ manufacturing plants in Europe and the Americas, as well as spare parts distribution globally by ocean container transports.

Javier Varela, the Chief Operating Officer and Deputy CEO of Volvo Cars, emphasizes that while renewable fuel is not the ultimate solution for reducing CO2 in ocean freight, this initiative demonstrates that immediate action can be taken to achieve significant results while waiting for long-term technological alternatives.

Volvo Cars does not see this initiative as a competitive advantage, but rather hopes to inspire other car makers to take similar action in order to increase the demand for carbon-efficient ocean transports and establish renewable fuels as a viable mid-term solution. The company believes that everyone has a responsibility to act in addressing climate change.

Volvo Cars has collaborated with logistics partners Maersk, Kuehne+Nagel, and DB Schenker on this initiative. These logistics service providers have also switched to renewable fuel for all container transports done for Volvo Cars since 1 June 2023.

When renewable fuel is not available for a specific shipment, the renewable fuel allocation of Volvo Cars is used by the logistics partner for another customer’s route, ensuring that the overall reduction in fossil fuel use remains consistent with actual use in container vessels. This methodology, known as mass-balancing, is regularly audited by third parties. The renewable fuel used is certified and does not compete with food crops, making it sustainable in accordance with the EU Renewable Energy Directive.

Javier Varela states that Volvo Cars is continuously exploring sustainability opportunities in its supply chain and overall business. The company aims to reduce its lifecycle carbon footprint per car by 40% between 2018 and 2025, including a 25% reduction in operational emissions, including logistics. Additionally, Volvo Cars is striving for climate-neutral manufacturing by 2025. These milestones are significant steps towards the company’s ambition of becoming a climate-neutral company by 2040.

1The comparison of fuels considers emissions from the production and use of an equivalent amount of energy, known as Well-to-Wake (WTW) emissions.

VolvoCars

Volvo Cars appoints new global Head of Marketing

Gretchen Saegh-Fleming has been selected to lead Volvo Cars’ global marketing team, starting from July 3rd. Her role will involve contributing to the company’s growth and strengthening the emotional connection between Volvo Cars and consumers. Additionally, she will play a crucial part in supporting the company’s efforts to expand its online business and establish direct consumer relations.

Gretchen comes to Volvo Cars after serving as the Chief Commercial Officer at connected fitness company Hydrow. Prior to that, she spent eight years at L’Oreal, where she held various executive positions, the most recent being the leader of the marketing function in the US. During her time at L’Oreal, Gretchen contributed to the brand’s growth through the implementation of new marketing strategies, acceleration of digital innovation, and establishment of strategic partnerships across their wide range of iconic brands.

Björn Annwall, Chief Commercial Officer and Deputy CEO of Volvo Cars, expresses confidence in Gretchen’s appointment, stating, “Gretchen is a results-driven and digital-first business leader with an impressive track record, and I feel confident that this will be a great match.”

Gretchen’s professional history includes successful contributions to business growth and profit improvement at companies such as General Electric and web startups. She is an accomplished marketing leader, recognized for her expertise in accelerating e-commerce, and a strong advocate for diversity and inclusion.

Björn adds, “With her extensive experience in leading marketing teams and developing direct-to-consumer businesses, Gretchen will play a vital role in growing our brand and attracting more fans to Volvo Cars as we progress in our journey towards full electrification.”

Gretchen joins Volvo Cars during a transformative period for the company, marked by changes in their product offerings, sales strategies, and distribution channels. This transformation is vital to the long-term ambitions and growth of the company.

Volvo Cars plans to achieve full electrification by 2030, introduce new methods of accessing their vehicles, provide a seamless online and in-store retail experience, and establish closer relationships with their expanding consumer base worldwide.

Gretchen expresses her enthusiasm for joining Volvo Cars, stating, “I’m truly thrilled to be joining Volvo Cars! Our family has been a customer of the brand for many years, and I now look forward to meeting my new colleagues across the world. Together, as one global marketing team, we will help position the company for a profitable, successful, and exciting future.”

Gretchen will be based at Volvo Cars’ US headquarters in Mahwah, New Jersey. She will report directly to Björn Annwall and become a member of the Group Management Team (GMT).

VolvoCars

Volvo Cars receives two prestigious towing awards in one day

• Volvo V60 Recharge Plug-in Hybrid T6 wins overall in the Tow Car Awards 2023

• Volvo V90 Cross Country named Best Car for Towing in the 2023 Auto Trader New Car Awards

Volvo has achieved a remarkable double win with the V60 Recharge Plug-in Hybrid T6 being named the overall winner in the 2023 Tow Car Awards, and the V90 Cross Country winning the Best Car for Towing category in the Auto Trader New Car Awards 2023. Both honors were announced today, showcasing Volvo’s commitment to delivering cars with exceptional towing capabilities, even within its new range of electrified models.

The Volvo V60 Recharge Plug-in Hybrid T6 is the first plug-in hybrid model to be crowned the overall winner in the Tow Car Awards. It also won the category for cars in the ‘1900kg+: Up to £60,000’ class.

The judging panel consisted of experts from What Car?, Practical Caravan, and the Camping and Caravanning Club, who rigorously tested the contenders on the track. Steve Huntingford, What Car? Editor, commented: “With more power and a larger battery than before, the Volvo V60 Recharge offers an excellent all-electric range and tremendous performance while towing.” He also praised the car’s stability, spaciousness, and ease of towing, concluding that “it’s hard to find fault with the Volvo as a tow car.”

The mid-sized Volvo estate has a braked towing capacity of 2,000kg. Its power and torque, derived from the petrol-electric all-wheel-drive powertrain, are key to its strong and responsive towing performance. The 253hp 2.0-liter engine generates a maximum torque of 350Nm, working in conjunction with a 145hp electric motor with 309Nm. Its performance is supported by an 18.8kWh lithium-ion battery, allowing for an electric-only range of up to 55 miles when not towing.

The V90 Cross Country’s success follows the achievement of the Volvo XC40 compact SUV in the same Auto Trader awards category last year. This year, the V90 emerged as the winner based on survey responses from over 220,000 UK car owners who rated their vehicles across various consumer-focused lifestyle categories. The Cross Country version of the stylish estate car is specifically designed for outdoor exploration, featuring all-wheel drive, a raised ride height, and the ability to tow braked trailers up to 2,400kg. Additionally, it offers up to 1,517 liters of interior space.

Erin Baker, Auto Trader’s Editorial Director, said: “The gorgeous Volvo V90 Cross Country is an enticing package, offering a premium, spacious interior, great tech, a sublime drive, and that all-important towing capability. Owners particularly commented on its distinctive Swedish styling, which sets it apart from other mainstream manufacturers.”

Kristian Elvefors, Volvo Car UK Managing Director, stated: “Creating cars that are perfectly suited to towing is part of our heritage, and it is a legacy that we are proud to continue into the new era of electrified mobility. As these awards demonstrate, success is not only about raw power but also about creating a complete package that encompasses our signature qualities of stylish design, exceptional safety, practicality, and comprehensive connectivity and convenience features.”

For more information on the Volvo V60 and V90, and to use the online configurator, please visit www.volvcars.co.uk

Note to editors

• Range according to the realistic WLTP driving cycle under controlled conditions for a new car. Real‐world range may vary.

VolvoCars

The fully electric Volvo EX30 SUV: a small car with big potential

Sometimes, first impressions can be misleading. Yes, the new Volvo EX30 is our smallest SUV to date. And yes, it comes at an attractive price. But it can have an oversized impact, representing one of our biggest business opportunities in the coming years.

The Volvo EX30, available to order now in selected markets*, is a cornerstone of the strategic transformation we are on as a company. Already by mid-decade, we aim for half of our global sales volumes to consist of fully electric cars and to reach an operating profit margin of 8-10 per cent. By 2030, we plan to sell only fully electric models.

We expect the EX30 to be one of our best-selling models in the coming years as we work towards those ambitions, and it will significantly contribute to our growth and profitability objectives.

With the Volvo EX30, we enter a new and fast-growing segment for our brand. There is a growing demand from consumers globally for small, fully electric premium SUVs. For example, many people living in the city are looking for a car that brings convenience and allows them to commute to work and get around, while doing so in a way that reflects who they are.

The EX30 is also designed to be as safe as you’d expect from a Volvo car and aims to look after both you and others in hectic urban environments. For example, it includes a special safety feature for bikes that helps to prevent so-called ‘dooring’ accidents, by alerting you when you are about to open your door in front of a cyclist, scooter or runner. State-of-the-art protective safety technology further illustrates how we’ve applied our high safety standards to the EX30.

The EX30 provides drivers with a true and capable SUV, born electric and packed with all the smart tech that they need. Combined with an attractive starting price of around EUR 36,000, this means customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents.

And as if that wasn’t enough, data from our initial analysis in two markets shows the total cost of ownership to be currently lower than any other fully electric Volvo car – and well ahead of much of the competition in the electric, small SUV segment*.

“We know that price and cost of ownership is still one of the biggest challenges when people consider switching to an electric car,” said Jim Rowan, our Chief Executive. “With the Volvo EX30, we aim to bring premium, fully electric mobility to a much broader audience, helping to advance and speed up the transition to full electrification that our industry and society needs.”

In the way you want it

With its convenient size, smart technology and different configurations to choose from, the Volvo EX30 is designed to appeal to a wide range of customers – each with their own preferences, needs and ways of life.

That same flexibility and convenience is reflected in the way we structured the commercial offer. It is designed around convenience and freedom of choice. You decide how you want to access a Volvo EX30: for example, through outright ownership, leasing or subscription.

Our Care by Volvo subscription offer has been very successful in recent years, not least because it gives customers flexibility and price predictability. We’ll offer that same level of transparency on the EX30: you can see your monthly cost at a glance, without hidden fees or costs, allowing you to enjoy life with your EX30 even more.

“With subscriptions for the EX30 starting at EUR 599 per month, we strongly believe this car will be an attractive choice for many customers – not just for our existing customers, but also to those who are new to the Volvo brand,” said Björn Annwall, our Chief Commercial Officer and Deputy CEO. “That will allow us to create new customer relationships and boost customer retention over time.”

A seamless customer experience

The Care by Volvo subscription packages are part of our ever-growing online offer. We’ve focused on developing a simple, intuitive and smooth buying process via our online flagship store, volvocars.com. Transparent online pricing without hidden fees, as well as an easy-to-understand offer, makes ordering a new Volvo EX30 a breeze.

That online sales process reflects our ambition of creating the best possible customer experience, seamlessly merging online and offline channels. Regardless of whether you visit one of our retailers, walk into one of our urban studios, head to our website or use the Volvo Cars app, everyone should get the same outstanding and meaningful experience.

In addition to the United Kingdom, which will be our first market to switch to a fully integrated online/physical, direct-to-consumer model this year, the Volvo EX30 will also be available online in other selected markets.

The small print

  • The Volvo EX30 is available for order as of today across Europe and other selected markets. In the United States, customers can place pre-orders, while orderbooks will open in other markets at a later stage that will be communicated in due course.
  • Total cost of ownership calculations from third-party data, based on 36 months and 60,000 kms of driving an EX30 Single Motor Core in the German and French markets. We expect similar results in other markets.